CHICAGO, IL--(Marketwired - October 24, 2016) - Strata Decision Technology (Strata Decision), a leading provider of cloud-based performance analytics for financial planning, decision support and continuous improvement, today announced highlights of the 2016 Strata Decision Summit, an educational and networking event focused on the future of healthcare finance, attended by hundreds of healthcare professionals from across the Company's customer base of over 180 healthcare delivery systems and 1,000 hospitals.
The Summit focused on the mindset, skillset and toolset healthcare provider organizations need as they move down the path from 'driving volume' to 'delivering value'. The keynote address highlighted new approaches, applications and services with leading hospitals and health systems sharing how they are turning vision into reality. That vision includes simplifying and driving significantly more value from the financial planning process, preparing service line leaders to drive performance in bundle payment and value-based programs and using data to drive decisions with workflow to ensure follow through.
The keynote featured:
- Mary O'Connor, MD, Director, Center for Musculoskeletal Care, Yale School of Medicine and Yale New Haven Hospital, and Professor of Orthopaedics and Rehabilitation, Yale School of Medicine
- Stephanie Daubert, Chief Financial Officer, and Mary Jo Brummel, Director of Finance from Nebraska Medicine in Omaha, Nebraska
- Jill Embler, Vice President of Financial Planning at Greater Hudson Valley Health System in Middletown, New York
- Dan Michelson, Chief Executive Officer at Strata Decision Technology
Northwestern Medical Center in Vermont Receives 2016 LEAP Award
Northwestern Medical Center (NMC), a 70-bed, not-for-profit community hospital in St. Albans, Vermont, was named the recipient of the 2016 LEAP Award for its efforts in leveraging StrataJazz from Strata Decision Technology to help increase their overall operating margin from 3.0% to 4.4%. NMC leveraged StrataJazz to drive significant efficiencies, reducing the time spent to update their cost accounting by 99% and reducing hours spent creating their annual budget by 50%. In addition to winning the LEAP Award, NMC consistently ranks at or near 100% on Medicare/CMS Core measures of clinical quality and has won national awards for patient satisfaction for the past five years in row.
"The changing business model of healthcare has made it mission critical for hospitals and health systems to develop new approaches to operational and strategic decisions in order to better run their organizations and serve their communities," said Dan Michelson, CEO of Strata Decision Technology. "Northwestern Medical Center in Vermont is a great example of how even a relatively small health system can drive significant value by leveraging data and redesigning workflow. The landscape is rapidly changing and the last few days served as a reminder that for many organizations the future is already here."
The LEAP (Lead, Excel, Achieve, Progress) Award recognizes healthcare organizations for outstanding performance in the areas of finance and strategy to benefit both their organization and the community that they serve. The award honors exceptional healthcare organizations that have used StrataJazz to solve real world problems related to financial analytics, business intelligence and decision support. Past winners include Mission Health in Ashville, North Carolina, Legacy Health in Portland, Oregon, Parrish Medical Center in Titusville, Florida and CHRISTUS Health in Dallas, Texas.
About Strata Decision Technology
Strata Decision Technology provides an innovative cloud-based financial analytics and performance platform that is used by healthcare providers for financial planning, decision support and continuous improvement. Founded in 1996, the Company's customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S.
The Company's StrataJazz® application is a single integrated software platform that includes modules for strategic planning, capital planning, operational budgeting, management and productivity reporting, decision support and continuous improvement. The Company's headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.